OLD National Bancorp IN Decreases Position in Discover Financial Services (NYSE:DFS)

OLD National Bancorp IN decreased its position in shares of Discover Financial Services (NYSE:DFS) by 28.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,582 shares of the financial services provider’s stock after selling 1,425 shares during the period. OLD National Bancorp IN’s holdings in Discover Financial Services were worth $621,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. FMR LLC raised its position in shares of Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after purchasing an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in Discover Financial Services by 1,272.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after acquiring an additional 245,829 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Discover Financial Services during the 3rd quarter worth $21,169,000. KBC Group NV increased its position in shares of Discover Financial Services by 19.0% in the 4th quarter. KBC Group NV now owns 924,033 shares of the financial services provider’s stock worth $160,070,000 after purchasing an additional 147,558 shares during the last quarter. Finally, Westchester Capital Management LLC acquired a new stake in shares of Discover Financial Services in the 3rd quarter valued at about $15,784,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price target on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Barclays boosted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Truist Financial raised their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $182.64.

Discover Financial Services Price Performance

Shares of NYSE DFS opened at $201.09 on Friday. The firm’s 50-day simple moving average is $181.02 and its 200 day simple moving average is $156.47. The stock has a market cap of $50.54 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.64 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a fifty-two week low of $104.08 and a fifty-two week high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Equities analysts expect that Discover Financial Services will post 13.39 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.